Saxo Market Call

Biggest policy move in 40 years?

April 23, 2021

Today's slide deck:   -

Today we look at US President Biden looking to nearly double the capital gains tax in an American Families Plan to be delivered at a joint session of Congress next Wednesday and the implications for assets. If Biden is able to push through the planned changes for the US tax code, it would represent the largest policy shift since the Reagan Revolution. The announcement triggered a sell-off in equities and crypto. Elsewhere, we look at the effect of ambitious climate targets announced at a climate summit yesterday in the equity space and inflationary pressures in Europe from carbon pricing and globally from a further rise in food prices. On today's pod were Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.

Intro and outro music by AShamaluevMusic

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